TFC - First Republic turns positive jumps 22% after report of likely $30B deposit rescue

2023-03-16 13:16:26 ET

• First Republic ( NYSE: FRC ) reversed course and soared 22% after a report that the nation's biggest banks are close to a deal to deposit about $30 billion as the U.S. government works to rescue the troubled lender.
• Banks including JPMorgan ( JPM ), Citi ( C ) Bank of America Corp. ( BAC ), Wells Fargo ( WFC ), Morgan Stanley ( MS ), U.S. Bancorp ( USB ), Truist Financial Corp. ( TFC ) and PNC Financial ( PNC ) are part of the talks, according to a Bloomberg report, which cited people familiar.
• Developing story ...

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